What elements and influences should you consider when making your hotel forecast? What could affect the pick-up and booking trends of your hotel? Important question to be answered in order to have a solid revenue management strategy.
How can you control the impact of high demand days on should dates? What kind of stay restrictions should be implemented? How san I use my systems to gather data to help me make better revenue management decisions? What revenue management action steps to take so you answer these questions easily...
A few months ago we wrote an article stating that the hotel franchise model is dead. Looking at the innovation of the last year in online marketing and distribution we can take this statement a bit further. 2010 will be the year of the independent hotel and direct sales!
How far in advance can you identify future fully booked days? Booking patterns are key in revenue management. Stay controls can help you build the shoulder days. This is where your revenue potential is.
How far in advance do people start to book the hotel? When does the booking pace increase? Are we ahead or behind on last years or last months trend? What revenue management action steps to take so you answer these questions easily.
To be able to make solid decisions without any doubts, it is advisable to convert the data from your pick-up reports into graphs. A booking curve graph will help you visualize the booking pace of your hotel. Hotel revenue management is about data driven decisions.